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Australian Agricultural Company Ltd (AAco) has appointed former Telstra chairman Donald McGauchie to its board, making him the third chairman the company has appointed in less than one year.

The troubled beef producer's board has given their unanimous support to the appointment and Mr McGauchie will become a director immediately after the company's annual meeting on May 19.

Chairman Nick Burton Taylor said Mr McGauchie's strong links to rural Australia will benefit AAco and ensure the board is now well balanced with an independent chairman, majority of independent non-executive directors and representation from each of the larger shareholders.

"The board's intention is that Mr McGauchie will assume the role of chairman of AAco after approximately a three month engagement," Mr Burton Taylor said in a statement on Monday.

"I will continue in the position of chairman during this period."

Mr McGauchie is a director of Nufarm Ltd, Graincorp Ltd, the Reserve Bank of Australia, and was previously a director and chairman of Telstra Corporation Ltd.

Mr McGauchie acknowledged AAco had had "difficult challenges" in recent years, but said he fully supported the new strategic direction of the company.

Mr McGauchie's appointment comes just three weeks after AAco appointed Mr Burton Taylor as acting chairman after Stephen Lonie stepped down from the role in April after less than one year in the top job.

Mr Burton Taylor is a former chairman of AAco who was dumped in May 2008 after the then-major shareholder of AAco, Futuris Corporation Ltd (now Elders Ltd), opposed his re-election.

In June 2009 then chairman Brett Heading was dumped, paving the way for Mr Burton Taylor to rejoin the board.